Puma commemorates ‘black power’ salute in US market push

Puma’s #REFORM campaign will see brand ambassadors such as rapper Meek Mill call for people to post images of themselves online with a raised fist

Smith never competed again after 1968, received death threats and struggled to make a living for years

Updated 11 October 2018

Reuters

October 11, 2018 15:16

0

BERLIN: Puma is launching a campaign to mark the 50th anniversary of US sprinter Tommie Smith’s black-gloved salute at the 1968 Olympics, shortly after rival Nike scored a hit with an ad featuring a modern-day activist for racial equality.
Nike saw a jump in sales after its advertisement with American footballer Colin Kaepernick, who began kneeling during the US national anthem at NFL games in 2016 to protest against police shootings of unarmed black men — a gesture that has drawn the ire of President Donald Trump.
Puma’s #REFORM campaign will see brand ambassadors such as rapper Meek Mill call for people to post images of themselves online with a raised fist to commemorate Smith’s silent salute at the Mexico Olympics on Oct. 16, 1968.
The brand is working with rap mogul Jay-Z’s Roc Nation on live and social media events to fight racism and sexism, and will match donations to charities such as the American Civil Liberties Union (ACLU), up to $100,000 in total.
Chief Executive Bjorn Gulden said it was a coincidence the anniversary comes soon after the Kaepernick ad, and also shortly after Puma launched its garish orange and black “Clyde Court Disrupt” basketball shoes — marking its return to a sport with close links to the social justice movement.
“We are not trying to make commercial advertising out of this but we think it is good for the brand because it is part of our values,” he told Reuters.
Puma has sponsored Smith for more than 50 years. He took a pair of their shoes onto the platform when he did his salute.
Puma is launching a collection of shoes called “Power Through Peace” on Oct. 16, with the proceeds going to charity.
Gulden said Smith was a trailblazer for other athletes like Kaepernick, who could not find a job for the 2017 season and is still without a team. Smith never competed again after 1968, received death threats and struggled to make a living for years.
“What he did then ... was the bravest thing an athlete has ever done when you think about the consequences,” Gulden said.
Nike sales jumped after the Kaepernick campaign, but its shares fell late last month when that did not feed through to an increase in the company’s full-year forecast.
Both Puma and German rival Adidas have been taking share from Nike in its home market in the last couple of years, helped by the popularity of their retro fashion styles.

Saudi Arabia, China sign $28 billion worth of economic accords

A total 35 agreements had been signed at a joint investment forum held by Saudi Arabia’s investment agency SAGIA

Updated 22 February 2019

Reuters

February 22, 2019 12:18

0

DUBAI: Saudi Arabia and China signed economic cooperation agreements worth a total of $28 billion at a joint investment forum during a visit by Saudi Crown Prince Mohammed bin Salman to Beijing, Saudi state news agency SPA said on Friday.
It said 35 agreements had been signed at the forum, held by Saudi Arabia’s investment agency SAGIA. It also said four licenses for Chinese companies had been awarded at the forum.

The forum, which coincided with the official visit of Crown Prince Mohammed bin Salman China as part of his Asian tour, aimed at enhancing opportunities for joint cooperation between the two countries in various fields.

Other cooperation agreements signed during the forum included areas of the Kingdom's target sectors such as renewable energy aimed at activating cooperation and consultation frameworks in the field of investment development in wind turbines by manufacturing Electric control devices, wind turbine structures, turbine blades and wind generators with an investment of $ 18 million.

The agreement aims to open up to 800 new job opportunities in one of the most targeted sectors of sustainable development.